The hotel industry has shrugged off the usual New Year seasonal hangover after recording its strongest figures since 2010, accountants at BDO said yesterday.
Falling petrol prices, supermarket price wars and an increase in wage growth has helped contribute to more cash in consumer pockets and boost spending on travel.
Research from BDO shows regional hotels enjoyed a 7.9 per cent rise in average room rate to £55.81 in January while occupancy was up 4.5 per cent to 59.7 per cent.
Hotels in London also fared well, with the average room rate up by five per cent to £104.86 on the back of strong demand. Occupancy rose 2.8 per cent to 71.5 per cent.
BDO partner Robert Barnard said: “With inflation falling to 0.3 per cent in January and the UK economy forecast to grow at its fastest rate since 2006, hoteliers should make the most of this welcome opportunity.”